sur Init Innovation In Traffic Systems AG (ETR:IXX)
Transport for NSW Awards Major Ticketing Contract to Init
Transport for NSW (TfNSW) has chosen INIT PTY LTD, an Australian subsidiary of Init Innovation in Traffic Systems SE, to modernize Sydney's public transport ticketing system. The contract, valued at approximately AUD 615 million (EUR 376 million), entails designing, installing, and operating an advanced account-based ticketing system for the Greater Sydney Opal network over ten years. The initiative, known as Opal 2.0, promises enhanced convenience and cost-effectiveness for passengers.
Scheduled for launch in 2027, the project involves installing over 25,000 new Opal readers across various transport modes. It features contactless technology, digital Opal cards, and automatic fare adjustments, offering a seamless experience. Passengers can use multiple devices for check-ins and outs. New South Wales aims to bolster its transport infrastructure, supported by AUD 77.8 billion in allocations over four years.
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